Mumbai: The new interest rate futures (IRF) contract launched by the National Stock Exchange (NSE), which provides investors in debt market an instrument to hedge against any change in interest rate, saw good participation from investors on its debut day. The IRF contract with underlying 7.72 per cent government of India securities saw a total turnover of Rs 1,907 crore on Friday.
The contract added more than 47,000 outstanding open interest positions during the day. On the BSE, the new IRF contract saw a turnover of Rs 366.32 crore. Apart from June contracts, the stock exchanges have also opened July and August contracts for trading with 7.72 per cent government of India bond as the underlying. An IRF is an agreement to buy or sell a debt instrument at a specified future date at a price that is fixed today.
